Think Ukraine couldn’t possibly have a thriving tech sector? Think again

Think Ukraine couldn’t possibly have a thriving tech sector? Think again

Ukraine has had its fair share of troubles this year, with political turmoil in the east of the country making headlines around the world. However, that doesn’t seem to have harmed the country’s tech sector.

A new report [PDF link] from Ukraine Digital News and AVentures paints a picture of an ecosystem with an exploding venture capital market (going from almost nothing five years ago to at least $80 million in 2013), a growing angel scene and a new generation of entrepreneurs for them to invest in.

As Ukraine Digital News’ Adrien Henni notes in the report, “In the minds of many Ukrainians, technology shines as a promise for highly-skilled and well-paid jobs for the new and next generations; of the country’s stronger integration into the global economy; of improved life conditions in virtually everything from online services, to e-government, to smart homes and cities.”

In other words, just like in other parts of the world, tech equals hope and a better tomorrow in Ukraine.

It’s worth noting that the report is backed by AVentures, a venture capital firm that invests in Ukrainian companies and with an interest in making the country look attractive. Still, the report stands up as worthwhile read, backed by data and interviews with VCs and entrepreneurs. It depicts a tech sector growing with strength despite challenging circumstances.

The Dealbook of Ukraine: Venture Investment in the Ukrainian IT Industry [PDF]

Image credit: Shutterstock

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